another judgment question.....

I need some wisdom. After recieving a summons from GEmoneybank(care credit card,charged $400 dental appt.,yada yada yada,I now owe them 3,800 in interest & fees) I contacted the plainiff's attorney and was unwilling to stop judgment for a down payment less than $800. After that it would be $250 a month which I couldnt pay even I wanted to. I am low income and currently in school to change this. Anyways,it looks like I'm not getting out of this so I am trying to accept it and stop freaking out about it. My question is,anybody that has been through this can tell me if it has a major impact on your current credit cards?

this is what i have:

capital one CL $500

capital one secured $200

merrick $650

credit one $300

sears solutions $ 400

first niagra $750

I have maintained all these cards a year, no lates, all in good standing. I have payed 2 auto loans, no lates at all. This judgment will be the only negative on my report. I have been losing sleep over this,been a nerveous wreck since the summons. I understand I brought this on myself,just hoping for some advice from someone whose been in this situation. Thanks for reading!!

Re: another judgment question.....

It's a major derog so your score will take a hit. It shouldn't affect your cards right off, but under a periodic review, your creditors may take adverse action against you such as closing the account, making your limit lower or they may do nothing at all.

Re: another judgment question.....

With those cards, as long as you maintain them, I don't think you're going to see any adverse action, although you're probably not getting a CLI anytime soon. Is there any documentation describing how a $400 charge ballooned to $3800? That's a 950% increase...

Re: another judgment question.....

I know,it's crazy and soo frustrating. This care credit card is a charge card that can only be used for medical purposes,at the time I had no insurance. I was never even issued a credit card in the mail (I know ppl with same account that get a card so idk wth) or recieved any paperwork. It was something I applyed for at the dentist office and I was so stupid at the time,just thought it was an account to make payments on the one bill. Anyway,by the time I heard anything about it,they called and stated I was one month late and I needed to pay $75. I was so overwhelmed at the time I just blew it off and here I am. In my 20's I didn't care about credit. Now I'm 31 and paying the price. Live and learn,right?

Re: another judgment question.....

Just because they are asking for all that money does not mean the judge is going to grant them that amount. SHOW UP TO COURT!! If you have the $400 bring that with you and tell the judge that you are offering to pay the amount you owe ($400 plus put a little bit extra for interest to show good faith). Explain that you are willing to pay your debts and you have tried to work out a plan with the creditor, but they are asking for an absurd amount of money which you just do not have. The judge will ask for proof from the creditor as to why they are claiming such an amount. They can not just go in and throw out a random amount without backup. Just be as nice as possible to the judge and you never know what the outcome will be =)

Re: another judgment question.....

Just because they are asking for all that money does not mean the judge is going to grant them that amount. SHOW UP TO COURT!! If you have the $400 bring that with you and tell the judge that you are offering to pay the amount you owe ($400 plus put a little bit extra for interest to show good faith). Explain that you are willing to pay your debts and you have tried to work out a plan with the creditor, but they are asking for an absurd amount of money which you just do not have. The judge will ask for proof from the creditor as to why they are claiming such an amount. They can not just go in and throw out a random amount without backup. Just be as nice as possible to the judge and you never know what the outcome will be =)

Re: another judgment question.....

Thank you all for the great advice. I answered the summons and i will show up to court with no lawyer and probly not enough money...but I know I will regret it deeply if I just blow it off. I am only trying to prepare myself for the worst case scenerio

Re: another judgment question.....

Most creditors don't expect you to not show up, showing up means you have won half the battle. Be confident and honest to the judge and it will work out. Just bring want you can afford even it's $100 the judge will understand.

"My Scores Yesterday or Last week or even Last month has no value when applying for credit today. The value is not in my score but the information in my credit file. Once the information is good the score will follow"

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair
organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or
assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.